I've contemplated this before too.
My bet would be on a generator separate from your tractor.
First, I don't think that having the tractor running for days on end is such a great idea.
Secondly, if you have a PTO generator, then that is ALL your tractor is going to do. In times of emergency/power outage, a 2720 could be awfully useful.
Third, I would consider a generator that is either diesel (fuel compatibility), or gasoline/propane/natural gas multi-fuel.
I live in Southern Illinois, and about two years ago we had some powerful storms (100mph+ winds!) that were called by some an "inland hurricane." before you start laughing, the storm had category 2 strength winds and an eye wall. One storm came in in the morning, passed with a perfectly clear sky directly up but dark clouds to the west followed by a second, much stronger storms with winds blowing in the opposite direction about 90 minutes after the first storm. Radar pictures showed a huge rotating cloud system over the entire area perhaps 60 miles wide in total.
The destruction was enormous. Hundreds of thousands of trees were down, and power was out for nearly a week. My wife had to stay as she is a doctor, but she could not return home (waaaay too many trees down) so the hospital put her up for 2 days. I took the kids and hightailed it to the grandparents where I bought a 5500 watt generator (on sale!), then headed back by myself. I was able to run the tractor to clean up the roughly 20 trees that had been blown down in my backyard. I used the generator to run my electric chainsaw--the only one I could buy in the region after the storm. I could also run the fridge and outdoor freezer plus a couple of other odds and ends.
The moral--If I had a PTO generator, I could either provide power or move logs but not both (the fires to burn up the wood ran for over a week). A multi-fuel generator is handy in that gas can go bad and Propane will (and has) lasted longer than you will.
Just my thoughts and experience,
SI2305